I decided to work with the Norris Group to lend me the extra money that I needed in order to find a good flip deal.

My question is, is there some type of financing that includes extra money to be put into the renovations?

Personally I had a really good experience with Real Estate Express, after having a great deal of difficulties (technology, and thought the material was poorly written) with another online school.  

They will not be on site to fix for thousands less with little effort, they will incur extra costs due to the requirement to hire management since they are out of state owners. 

Yes- in some cases various owners had difficulty reaching consensus.  

Misc extra rehab items that you didn't think about.

so I have come across investors that can live off their rental properties and then you some that are just happy with getting their mortgage paid off and have a little extra for repairs and maint. 

CPA may charge a little extra for that, but it'll ensure your lender-calculated DTI isn't a mess when attempting to get fannie/freddie mortgages in the subsequent two tax years.

Market could go back to 2013 levels and if rents dropped way down too it might not cover the extra 200k debt service as well.Would it make sense to use the equity to pay off your other investment or does that make this much cash flow as well?

*shrug*By contrast folks actually residing here, that are here lawfully...Teach them how to hack FICO, they do exactly what they are told.Teach them to season funds, they do exactly what they are told.Teach them (or their CPA rather) what stuff we look for on Schedule E, make sure the rent and fair rental days are accurate, get aggressive with depreciation so no one is paying extra taxes for no reason, et cetera.